Monday, October 3, 2011

US markets hit year-low, as Greece is warned it will have no more concessions

Shares in Bank of America, Citi and Morgan Stanley fell to their lowest levels since March 2009 after the Franco-Belgian bank Dexia looked like it might be the first lending casualty from the Greek crisis.
American banks also saw the insurance taken against their debt spike higher with credit default swaps jumping 8pc to 19pc.

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